A weekly summary of news from the syndicated newspaper/web column, The Canadian Report, by Jim Fox.

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Sunday, January 29, 2017

Canadian PM awaits Trump visit; Keystone XL plan faces test

Canada column for Sunday, Jan. 29/17

THE CANADIAN REPORT

(c) By Jim Fox

As Prime Minister
Justin Trudeau awaits a meeting with U.S. President Donald Trump, TransCanada
Corp. is again seeking U.S approval of its proposed Keystone XL pipeline.

Former President
Barack Obama rejected the multi-billion-dollar pipeline plan in 2015 but Trump has
signed an executive order inviting the company to reapply.

The pipeline would
carry 830,000 barrels of Alberta oil a day 1,180 miles to Nebraska where it
would connect with other lines leading to refineries along the U.S. Gulf Coast.

TransCanada CEO
Russ Girling said the project will help meet America’s growing energy needs and
create substantial jobs and economic benefits on both sides of the border.

“We look forward to
working with all stakeholders as we develop this project in the interest of
both our countries,” he said.

The project has
faced significant environmental opposition that is resuming.

Canada has the
third largest oil reserves in the world and is the largest supplier of foreign
oil to the U.S.

Trudeau
congratulated Trump on his election win and invited him to visit Canada first –
a tradition for incoming presidents between the world’s largest trading
partners.

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General Motors is
cutting up to 600 jobs at its assembly plant in Ingersoll, Ontario as it shifts
production to Mexico.

The layoffs take
effect in July at the CAMI Assembly plant that builds the GMC Terrain, to be
moved to Mexico, and the Chevrolet Equinox.

GM Canada said the
“employment impact” was the result of a changeover of older model Equinoxes to
the next-generation Equinox.

Jerry Dias, Unifor’s
national president, said this is a clear sign the North American Free Trade
Agreement needs to be renegotiated.

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News in brief:

- The Ontario
government has put up a roadblock in Toronto’s way to start charging tolls on
the Don Valley Parkway and Gardiner Expressway. Premier Kathleen Wynne said the
city can instead get its needed transit infrastructure money from additional
fees to be shared from gasoline taxes. Mayor John Tory said he expects the
province to take “serious and immediate action” to address Toronto’s needs.

- Canada’s iconic
Tim Hortons coffee and bakery shop chain, founded in 1964 by the late Toronto
Maple Leafs’ hockey player, is expanding to Mexico. Restaurant Brands
International Inc. said it will be a joint venture with Mexican investors. The
company earlier announced similar agreements in the Philippines and United
Kingdom for the 4,400-store chain.

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Facts and figures:

The Canadian dollar
has advanced to 76.16 cents U.S. while the U.S. dollar returns $1.312 Canadian,
before exchange fees.

The Bank of
Canada’s key interest rate is steady at 0.5 percent while the prime-lending
rate is 2.7 percent.

Stock markets are higher,
with the Toronto exchange index at 15,553 points while the TSX Venture index is
805 points.

The average price
for gas in Canada is lower at $1.079 a liter or $4.10 (Canadian) for a U.S.
gallon.

- The Supreme Court
of Canada has upheld a British Columbia law requiring someone to register
before sponsoring political advertising during a provincial election. The
ruling doesn't apply to someone who wears a T-shirt with a political slogan or has
a bumper sticker on a car, the court said.

- Atlantic Canada’s
premiers net Friday with several federal ministers to discuss the Atlantic
Growth Strategy. Nova Scotia Premier Stephen McNeil and Treasury Board
president Scott Brison hosted the meeting that was highlighted by discussion
about increasing immigration to the region and ways to cooperate in areas such
as energy.

- Marineland has
been charged with six more counts of cruelty by the Ontario Society for the
Prevention of Cruelty to Animals. They concern allowing elk and deer to be in
distress at its Niagara Falls, Ontario park and failing to provide the
standards of care. Five cruelty charges were laid earlier over the treatment of
peacocks, guinea hens and black bears.